The following conditions of auction, which are deemed to be
accepted in full upon submission of a written, electronic, verbal or
telephone bid, apply to Auction 155 of Frankfurter Münzhandlung
Nachf. GmbH:
1. Frankfurter Münzhandlung Nachf. GmbH (hereinafter referred
to as „Auctioneer“) conducts an auction as a commission agent, in
its own name and for the account of the consignors, who remain
anonymous.
2. Bidders who are unknown to the Auctioneer are asked to prove
their identity prior to the auction. In addition, the Auctioneer
reserves the right to deny individuals access to the auction premises,
at its own discretion and without stating a reason.
The Auctioneer is entitled to deviate from the designated order in
the catalogue and to combine lot numbers. Lots will not be divided
up. In case of disagreement, the Auctioneer may re-offer a lot. The
auction is conducted in German and partly in English.
3. The Auctioneer executes written orders and telephone orders
diligently and in the interests of the consignor, however without
liability. Written bids (and bids submitted electronically) can only
be considered if they are received no later than 24 hours prior to the
auction (or 12 hours for bids submitted via an Internet platform). In
principle, telephone bidding is possible for items with an estimated
value of over EUR 300.00, and bids must be placed at least 48
hours before the auction begins. The establishment of a telephone
connection cannot be guaranteed.
The Auctioneer and the operator of the “live bidding” platform(s)
provided endeavour to guarantee the availability and fault-free
operation of these platforms. It is for the bidder to obtain information
promptly concerning the technical prerequisites and requirements of
these platforms and to implement any installations and adjustments
that may be necessary. The Auctioneer refuses any liability for losses
or other claims arising from interruptions or delays resulting from
technical faults or defects.
4. Only the descriptions of each respective lot number in the printed
catalogue, and not the illustrations, are binding for the auction.
The auction catalogue published on the internet is for information
purposes only.
5. Hammer prices are in Euros (EUR) after three calls of the highest
bid, which commits the highest bidder to purchase the lot. In case
of disagreement over the hammer price, the number will be called
again. If equally high written bids are received, the first received bid
has priority. Bids below 90% of the starting price are not considered.
„Either / or“ orders and order limits can only be executed or
considered conditionally. The Auctioneer may reject a bid, without
stating a reason and without liability. The risk passes to the buyer
with the fall of the hammer. Each successful bidder is personally
liable for his purchases and cannot claim to have bought for the
account of third parties.
6. The following minimum bid increments apply to the auction:
up to EUR 100 EUR 5
up to EUR 200 EUR 10
up to EUR 500 EUR 20
up to EUR 1,000 EUR 50
up to EUR 2,000 EUR 100
up to EUR 5,000 EUR 200
up to EUR 10,000 EUR 500
up to EUR 20,000 EUR 1,000
up to EUR 50,000 EUR 2,000
from EUR 50,000 EUR 5,000
(or 10%)
7. The hammer price is the basis for calculating the buyer‘s premium.
For buyers from EU countries, the following applies: For consumers,
a uniform premium of 23% is charged (the total amount includes
the statutory sales tax). For businesses, in accordance with UstG
(German sales tax law), a premium of 23% applies to items subject
to differential taxation (the total amount includes the statutory
sales tax); for items exempt from sales tax and items subject to
regular taxation, a premium of 20% applies (plus statutory sales
tax on the total amount of hammer price and buyer‘s premium).
Export deliveries to EU countries can be exempted from sales tax on
demonstrating fulfilment of the statutory preconditions.
For buyers resident in third countries (outside the EU), the
following applies: The buyer’s premium is a uniform 20%. If the item
is exported to third countries by the buyer or by third parties, the
statutory sales tax will be charged; however, it will be refunded to the
buyer upon presentation of the legally required proof of export. If the
item is exported to third countries by the Auctioneer or on its behalf,
statutory sales tax will not be charged.
There is no additional buyer’s premium or fee when participating in
the auction via a live bidding platform.
8. The auction invoice is due for payment immediately upon receipt,
however by no later than 10 days after the end of the auction. After
expiry of the payment period, the buyer automatically falls into
arrears and the Auctioneer is entitled to demand interest at the rate
of 10% p.a. If the buyer is in default of payment or refuses to accept
the auctioned lot, the Auctioneer reserves the right to sue the buyer
for either fulfilment of the contract or for compensation for losses
resulting from non-fulfilment, or to withdraw from the contract.
9. In principle, the auction lots are only handed over or shipped after
full payment of the auction invoice. It is at the sole discretion of the
Auctioneer to hand over lots on account. Costs incurred abroad,
such as customs duties and taxes, as well as the associated shipping costs and insurance charges, are borne solely by the buyer.
10. The auction item remains the property of the consignor until the
auction invoice has been paid in full.
11. Compliance with foreign customs and exchange regulations
etc. is the responsibility of the buyer. The Auctioneer expressly
disclaims responsibility for any consequences that may arise from
contravention of such regulations.
12. The catalogue descriptions are not contractually agreed qualities
within the meaning of §434 BGB, but serve for information purposes
only and to distinguish the auction items. The description in the
catalogue is prepared to the best of our knowledge and belief and
with great care. The printed prices are starting prices. Complaints
regarding the qualities portrayed in the catalogue must be made in
writing without delay, but at the latest within 8 days after receipt
of the auction item. Numbers with several coins (so-called lots) are
excluded from complaints after the fall of the hammer.
13. The Auctioneer makes no guarantee that auction items will be
accepted by a grading service (e.g. NGC or PCGS) or classified
according to their grading. Complaints resulting from this shall not
give right to the cancelation of the purchase. For pieces which, at the
time of the auction, are contained in the so-called „slabs“ or plastic
holders of a grading service, the guarantee of authenticity referred to
below is void. The Auctioneer will also not be held liable for hidden
defects, such as edge defects, carrying eyelet marks, stress marks, etc.,
which are covered by the slab.
14. The authenticity of the auctioned items is guaranteed within
the statutory period. The right to claim warranty is granted to the
buyer only and cannot be assigned to third parties. The assertion
of the warranty claim requires the buyer to give notice of defect
to the Auctioneer by registered letter immediately after discovery
of the defect and the forged auction item must be returned to the
Auctioneer in the same condition as it was handed over to the
buyer, unencumbered by third party claims. The buyer must, at
his own expense, provide proof that the auction item is a forgery.
The Auctioneer may require the buyer to seek the opinion of two
independent experts recognised in the field, at the buyer‘s own
expense; however, the Auctioneer is not bound by such opinion and
reserves the right to seek additional expert advice at its own expense.
15. Justified claims of the buyer against the Auctioneer concerning
the condition or falsity of the auction item are limited to the refund
of the purchase price and the premium paid by the buyer (including
any VAT). Further or other claims of the buyer against the Auctioneer
or its employees are excluded under any legal title whatsoever.
16. The names of the consignors and the buyers are not normally
disclosed. The Auctioneer is entitled to exercise all rights of the consignor against the buyer arising from the contractual relationship
in its own name.
17. The law of the Federal Republic of Germany applies exclusively.
The United Nations Convention on Contracts for the International
Sale of Goods (CISG) does not apply. For businesses within the
meaning of §14 BGB and buyers without general jurisdiction in
Germany, the place of performance and exclusive place of jurisdiction
for all disputes arising directly or indirectly from the contractual
relationship is Frankfurt am Main.
18. Should one of the provisions be or become invalid in whole
or in part, the invalidity and/or incompleteness of one term shall
not affect the validity of the remaining terms. The ineffective and/
or incomplete term shall be replaced by a legally valid term that
approximates as closely as possible to the economic content and
purpose of the ineffective and/or incomplete term. The same
applies in the event of an omission. If the conditions of auction are
available in several languages, the original German text shall always
be authoritative for the interpretation.

Frankfurt, September 2021